Costco’s sole Australian outlet has recorded a higher turnover in its first year than that of an average US outlet, prompting the company to further invest in its Australian interests.
The Costco store in Melbourne’s Docklands generated total revenue of A$165.9m for the 2009-10 financial year, whereas the average US outlet typically reports annual sales figures of A$145m, reported the Sydney Morning Herald
The company has earmarked A$40m to fund growth in Australia, including the development of outlets in Sydney and Canberra.
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